Market

Asian shares sink after Dow hits bear level on pandemic news

  • Mar 13, 2020

TOKYO  — Asian shares plunged Thursday after the World Health Organization declared a coronavirus pandemic and indexes sank on Wall Street. Japan’s benchmark Nikkei 225 dived 4.4% to 18,559.63. Australia’s S&P/ASX 200 dropped 7.4% to 5,304.60. South Korea’s Kospi dipped 4.7%

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A look at what happens when stocks enter a bear market

  • Mar 13, 2020

Wall Street’s staggering skid that began less than three weeks ago has pulled the Dow Jones Industrial Average into what’s known as a bear market. After a string of sharp losses, the Dow has now fallen more than 20% from its last peak on Feb. 12. The S&P 500, the index most investors

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Stocks give up much of an early surge day after huge plunge

  • Mar 11, 2020

NEW YORK  — Stocks gave up most of an early surge on Wall Street and briefly dipped into the red a day after the market’s biggest drop since 2008. The Dow had been up 945 points in the early going, dipped into the red and then went higher again shortly after noon. Markets bumped up after Vice Presid

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Saudi Arabia increase oil output to record high

  • Mar 11, 2020

DUBAI, United Arab Emirates  — Saudi Arabia’s state-run oil giant Saudi Aramco said Tuesday it would increase its crude oil production to 12.3 million barrels a day in April, a record amount. The move seems to make good on the country’s promise over the weekend to increase output after

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Stocks steady after plunge due to outbreak, oil-price crash

  • Mar 10, 2020

BEIJING  — Asian stock markets took a breather from recent steep declines on Tuesday, with several regional benchmarks gaining more than 1% after New York futures reversed on news that President Donald Trump plans to ask Congress for a tax cut and other quick measures to ease the pain of the virus outbrea

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Global stocks, oil prices sink as crude exporters squabble

  • Mar 10, 2020

BEIJING  — Global stock markets and oil prices plunged Monday after a squabble among crude producers jolted investors who already were on edge about the surging costs of a virus outbreak. The main stock indexes in London and Frankfurt dropped by more 8% at the opening. Tokyo closed down 5.1% while

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Japan’s economy shrinks 7% in last quarter, risks recession

  • Mar 10, 2020

TOKYO  — Japan’s economy contracted at a dismal 7.1% annual rate during the October-December period, worse than the initial estimate, raising fears the world’s third largest economy could be headed to a recession. The contraction was the first for Japan in more than a year and followed

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Oil plunges 25% as another virus-fueled trading week begins

  • Mar 10, 2020

NEW YORK  — Oil prices are plunging amid concern a dispute among producers could lead a global economy weakened by COVID-19 to be awash in an oversupply of crude. Brent crude, the international standard, lost $11.44, or 25.3%, to $33.83 per barrel in electronic trading in London. Benchmark U.S. cr

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UBS Bank won’t fund new offshore Arctic oil, gas projects

  • Mar 09, 2020

KENAI, Alaska  — A multinational investment bank has ended support for offshore drilling in the Arctic amid efforts to tackle climate change, a move that could affect future funding for oil and gas projects in Alaska, a newspaper said. Switzerland-based UBS Bank joined several other investment com

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